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How to Utilize Coupons & Gift Cards for Your Retail Shop

Don’t you just love it when you go shopping and you get to buy a great product and saving money in the process? Well, your customers are no different.


Your customers enjoy saving money just as much as you do, so in order to fulfill that joyous void, you should offer coupons and gift cards to your customers. Now, you may be saying, “Malcolm, I’m not a large retail company, I can’t possibly offer them that.” And to that statement, I say you couldn’t be more wrong.

 

Offering coupons and gift cards to your customers gives you more of that personal connection with them and give them plenty of opportunities to keep them visiting your online or retail space. But in order to get that result, you must understand how to utilize them effectively. Here are a couple of ways you can offer coupons and gift cards to your customers.

 

  • Offer a membership program: There are many great retail companies like Barnes & Noble and Kohl’s who offer memberships to their customers and send them emails and or direct mail offering special sales and coupons that no one else gets. For some stores, all the customer has to do is pay a small annual or monthly fee. Whether you as a small business owner apply a fee or not is up to you, but a membership program is a great way to not only give your customers more of a reason to go to your store, but you get to build a more personal connection with them, which leads to the next way to use coupons and gift cards.
  • Offer Free Gift Cards with Large Purchases: Some companies like Best Buy already do this. Anytime you buy a big-ticket item like a TV, they may have a deal where if you buy a certain TV brand, they will give you a free gift card. You could do the same whether you sell big ticket items like TVs and appliances or not. You could apply this to an industry like clothing: like if a customer buys 10 t-shirts, you could offer a free $20 dollar gift card that never expires.

 

I can go on and on, as there are many other ways you could utilize coupons and gift cards for your online and or retail space. Of course, you could always sell gift cards on your Marketplace and in store, but if you use these methods, you will have more customers to sell your passion and dreams too and develop that strong relationship with them, which is what small business is all about.

We wish you much success.

 

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